Wildhorse Inc. provided several entertainment services to Blue Spruce Corporation in the past. On January 1, 2023, when the receivable for the past services was due, Blue Spruce was unable to pay the outstanding balance. Wildhorse agreed to accept a $520,000 non-interest bearing note payable on December 31, 2024. Blue Spruce typically could arrange this kind of financing at an interest rate of 15%